Friday, 9 November 2012
The Geller Prize
Repair pricing is a two-edged sword. By instituting the Geller repair pricing system many retailers have instantly doubled or tripled revenue from repairs. One of the ways in which this happens is by putting down on paper the services performed that we don’t always disclose. For instance a sizing might also require checking and tightening of gemstones, polishing and rhodium plating, and in the Geller system, you are urged to provide a warranty on work done.
My take on this system is this: the real prize is that when you’re getting a better price for repairs, your goldsmith is free to spend the time actually doing a proper job. He or she doesn’t resent the time checking and tightening shoulder-stones and properly rhodium plating.
If you’re going to charge more than the competition, make sure you’re worth more. If you’re not worth more, what are you? You’re worth less. Worthless.